Understanding the drivers behind Sukuk proliferation in 2007

If the extraordinary growth experienced in the Sukuk industry in 2006 was unprecedented, all the signs for 2007 suggest a bigger year according to experts speaking at Sukuk World.

The conference, which is due to take place on 24-27 June at the Sheraton Abu Dhabi Hotel & Resort, Abu Dhabi, will debate the whole spectrum of the Sukuk market, including insights from those institutions that have chosen to issue Sukuk. A special panel discussion consisting of high profile Sukuk issuers will discuss and field questions about their particular experiences. In addition, the issuers of the first and only U.S. Sukuk, East Cameron Partners LLP will be providing an exclusive case study along with their key advisors on the rationale behind the ground-breaking decision.

"The Sukuk market is experiencing an unprecedented growth in recent times with sovereign and corporate issues becoming more common. As the Islamic Finance industry develops globally, it is becoming increasingly important to share experiences and best practices," commented Shafqat Ali Malik, Chief Financial Officer at Abu Dhabi-based Aldar Properties.

A record $16.8 billion of Islamic bonds were sold worldwide last year, more than double the $7.6 billion issued in 2005, according to data compiled by Bloomberg. This continuous expansion is being driven by swelling global demand in Shariah compliant financial products and services. The UK Treasury have commissioned a feasibility study into the possibility of issuing a debut sovereign Sukuk in 2008 representing growing worldwide popularity in Shariah-compliant debt issuance.

Malik added, "Sukuk is in great demand globally and is becoming an important financial instrument in the funding strategy of major corporates in the region. Sukuk World is a great opportunity for potential issuers and investors to understand better the attractiveness of the Sukuk market. "

Debate and discussion amongst Islamic finance professionals, investment experts, regulators and market issuers will centre on regulatory and industry standards, structures and issues, investment trends and management issues. It will also address the role of Sukuk in developing the Islamic Finance industry regionally and internationally, promotion and marketing campaign strategies and choosing the bourse that suits your requirements.

Two dedicated workshops have also been organised and will examine, in-depth, the different structures and issues currently established, and the legal and regulatory requirements for issuing Sukuk.

An impressive line-up of international and regional financial experts are expected to speak at the event including amongst others, Per Larsson, CEO, Dubai International Financial Exchange, Amr Abou El Seoud, Executive Vice President, Investment Dar Company, Ahmed Abbas, CEO, LMC, Nasser bin Hassan Al-Shaikh, Vice Chairman & CEO, National Bonds, John Sandwick, Managing Director, Encore Management SA, Arul Kandasamy, Head of Islamic Banking, Barclays Capital.

Dubai International Financial Exchange is the Headline Sponsor for the Sukuk World conference.